What Is The MIB (Medical Information Bureau)? | Patient Resources | MedicalRecords.com
Most insurance companies in the United States belong to the Medical Information Bureau (MIB), which operates an exchange of health information of underwriting significance used by its member insurance companies to assess risk for life and health insurance coverage. The information contained in a typical MIB record is limited to short descriptions of specific medical conditions which might impact an applicant’s health or longevity. The information is obtained with the applicant’s consent and is used to help protect insurers against errors, omissions and misstatements in the health statements taken on an application for insurance coverage. Insurance companies must use MIB information as an alert only; the information is not determinative and must be verified. A decision on whether to issue or rate health or life insurance to you cannot be based solely on information in a MIB report.
Insurance companies can use MIB information as an alert; the information is not determinative and must be verified. MIB member insurance companies use MIB information to underwrite life and health insurance coverage. A decision on whether to issue health or life insurance to you cannot be based solely on information in a MIB report.
The MIB is subject to the Fair Credit Reporting Act (FCRA), and as such, MIB provides access to your MIB record annually at no cost, should you have such a record. For information on how to access information that MIB may have about you, access MIB’s website. MIB’s member health insurers members are subject to HIPAA, and accordingly MIB complies with HIPAA privacy and security regulations as a “Business Associate.”
For further information about MIB how to review and correct any misinformation that MIB may have about you, access MIB’s website.
Takeaways
MIB is an industry exchange of applicant authorized underwriting information used by member life and health insurance companies in the underwriting and issuance of insurance coverage.
A decision on whether to issue or rate health or life insurance to you cannot be based solely on information in a MIB report.